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RE: SBDs Are Not A Part Of The Pay Out Equation
Once the systems debt level hits 5% then SBD is no longer printed and authors only get liquid STEEM. So really the choice is between 100% SP or 50% Liquid STEEM / 50% SP. I explained this increasing and problematic debt level in detail here Impending STEEM DOLLAR Purge : The #1 Key Indicator To Watch
I've been expecting the system was a risk to hit this 5% level for some time now. SBD is now effectively redundant.
Hey, @buggedout! Good to see you. :) How's it going? Aside from the fact that this isn't the scenario you wanted to see but was essentially saying it would eventually happen.
Effectively redundant? Because STEEM is being printed instead of SBD? I feel like I read that post when it came out (though I can see no evidence of it), but the post is familiar.
I thought I read something a while back where we were in decent shape with the debt ratio. I admit that I'm probably getting things confused. I did end up getting some SBD on a higher paying post after I published this, so I don't know if this STEEM/SP only lasted for a few, or what. I just know I got some SBDs before and after the two I mention here.
SBD was designed to be both a Stable Coin and a Liquid Post Reward for Authors. It hasn't been considered a stable coin for a long time now and if it's not being printed (and issued) as a liquid reward then it's no longer fulfilling ANY of it's intended design. ie - It's redundant. It is now purely a speculators play thing and I'd expect the calls to get rid of it altogether (because it no longer serves a purpose) to get louder.
By my calculations we are right on the 5% debt level so it's possible what you're noticing is slight fluctations either side of 5%. With the dumping going on in the broader crypto market today I'd be surprised if anyone sees any SBD post rewards from here unless we get a market rally or an SBD purge. Neither look that likely in the short term.
Okay, I understand what you're saying now about SBD. I didn't realize there's a wide desire to get rid of SBD, though. Everyone seems to want them (mostly because they've always been worth more than the $1). At any rate, you've got your finger on the pulse better than I do when it comes to all of these market gyrations and the mood of the public, so I defer to you, since you're basically saying this is going to happen and viola, here we are.
Looks like STEEM broke through $1.10 USD and has hit as low as $1.05 something. SBD is still barely above a $1. The other crypto got pounded while I wasn't looking. :)